quarterly earnings announcements

Microsoft's CFO Amy Hood indicated a workforce reduction in upcoming quarters, citing a drive for increased pace and agility. This follows recent job cuts and employee buyouts. Despite these changes, the company reported strong financial results, with significant growth in Microsoft Cloud and AI revenue, demonstrating robust customer adoption and progress.

AMD's data center segment is now the primary driver of revenue and earnings growth, with a 57% increase reported in the first quarter. The company provided a higher-than-expected revenue forecast for the current quarter, signaling continued strong demand for AI-related chips.

PayPal is planning to lay off approximately 4,760 employees, or 20% of its workforce, over the next two to three years as part of a significant cost-cutting initiative. This move aims to accelerate AI adoption, streamline operations, and refocus on core business areas like checkout, with the company expecting at least $1.5 billion in gross savings.

Microsoft is doubling down on improving its consumer products, including Windows and Xbox, to boost user engagement. CEO Satya Nadella highlighted efforts to enhance quality, address core user needs, and win back fans.

Global tensions in West Asia, particularly around the Strait of Hormuz, are driving market volatility and influencing crude oil prices. Investors are also closely watching corporate earnings, with key results due this week, alongside crucial US economic data and the Federal Reserve's policy decision.

The Gates Foundation Trust holds a significant $3.6 billion stake in Caterpillar, a company increasingly vital for AI infrastructure. Caterpillar's Power Generation business is booming due to data center demand, with its stock soaring 183% in a year. This investment comes as the foundation itself announces substantial job cuts, impacting 20% of its workforce.

Apple posted its best March quarter ever in Q2 FY2026—$111.2 billion in revenue, up 17% year over year, with iPhone sales jumping 22% to $57 billion and Services hitting an all-time high of $31 billion. Every product category and every geographic region grew. The catch: memory costs are rising fast, Mac supply can't keep up with demand, and Tim Cook is handing the CEO role to John Ternus on September 1.

Meta reported a loss of 20 million daily active users across its apps, attributing the decline to geopolitical factors in Iran and Russia. Despite this user dip, the company is significantly increasing its AI investment to between $125 billion and $145 billion for 2026, while also undergoing workforce reductions and facing legal challenges regarding youth safety.

The fall in HCL Technologies’ stock price wiped out around Rs 38,000 crore in market value and brought its total market capitalisation down to about Rs 3,53,000 crore.

Infosys’ total workforce stood at 3,28,594 at the end of Q4 FY26, reflecting a sequential decline of 8,440 employees from the previous quarter, but an increase of 5,016 compared to the year-ago period.

US chip stocks hit all-time highs, led by Intel's 24% surge, its best day since 1987, fueled by AI demand. The Philadelphia SE Semiconductor Index also reached a record, marking an 18-day winning streak. Intel's turnaround, attributed to CEO Lip-Bu Tan, saw revenue rise 7.2%, with data center growth up 22%.

Wall Street saw a mixed trading session Friday, with the Nasdaq and S&P 500 climbing on strong Intel earnings and AI optimism. However, the Dow Jones dipped. Meanwhile, oil prices eased on potential US-Iran diplomatic talks, and a ceasefire extension between Israel and Lebanon boosted sentiment. Tech giants like Meta and Microsoft announced job cuts amidst AI investments.

Technology stocks bore the brunt of the selling. Shares of Infosys, HCLTech, Tech Mahindra and Tata Consultancy Services fell between 2 per cent and 4 per cent after Infosys’ fourth-quarter results failed to meet market expectations.

Dalal Street eyes US-Iran conflict, crude oil, and corporate earnings for direction. HDFC Bank and ICICI Bank reported Q4 results, with the former warning of West Asia conflict risks. Analysts anticipate continued focus on geopolitical developments and their impact on global markets and capital flows.

Brokerages offer mixed views on Indian stocks. Motilal Oswal is bullish on Dixon Technologies, citing government approvals. Macquarie is cautious on United Spirits, noting growth lags. Citigroup recommends HDFC Life despite Q4 challenges. Morgan Stanley maintains an overweight on HDFC AMC, expecting steady AUM growth. Nomura reiterates a buy on Wipro, highlighting deal wins and a significant buyback.

Chegg, a major education technology firm, faces near extinction due to artificial intelligence. Once valued at billions, its stock has plummeted. Students now use free AI tools like OpenAI's ChatGPT for homework help, bypassing Chegg's paid services. The company has also sued Google over AI-driven search summaries impacting its traffic.